Stock market Indices technical analysis S&P500, DAX, CAC, NIKKEI, NASDAQ
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S&P500
S&P500 has broken above 2260 and reached the 2300 target. Above this level look for continuation into 2400 if we get a clear confirmation of uptrend resuming. Strong upside support now is 2260 level and invalidation of the medium-term uptrend only on a break below 2225. The instrument has reached 2300 target and now we look at the upside extension into 2400. SL on long trades at 2270.
DAX
The instrument has broken above 11620 consolidation cap level and has reached 11850 level. To finish the upside perfect extension it needs to hit 12040 level. Strong support now is 11500-11650 zone. Look for long opportunities here on a bounce from uptrend line, for now, with SL below 11600. No change in view.
CAC40
The instrument broke above broadening wedge between 4700 and 4900 level. Only long trades are preferred now with SL below 4800 targeting 5300.
NIKKEI
The instrument is bouncing from the strong support zone 188-190 and we need a near-term break above 195 for the upside extension. Look only for long trades as long as the instrument is above 188.40 level.
NASDAQ
The instrument is reacting from broken new high 5024 level and as long this level hold look for long trades with SL below 5100 targeting 5300. The instrument is now approaching 5300 target. New long trades only on a daily close above this level and SL on existing trades should go to break even now.
We expect USD uptrend now to continue after short-term correction is over and we are bullish on stock market indices.
Stocks online market indices may be classed in many ways. A ‘world’ or ‘global’ stock market index includes (typically large) companies without regard for where they are domiciled or traded.
A ‘national’ index represents the performance of the stock market of a given nation—and by proxy, reflects investor sentiment on the state of its economy. The most regularly quoted market indices are national indices composed of the stocks of large companies listed on a nation’s largest stock exchanges
Technical analysis on stock market indices is just an indication of possible price movement and does not indicate any trade action which could be initiated by investors and members of this site.